President Donald Trump has lashed out at the Federal Reserve chairman, after Jay Powell refused to cut interest rates to Trump’s liking, a move that would have given the president ammunition to escalate his trade war with China. “As usual, the Fed did NOTHING!” Trump tweeted on Friday, after Powell announced that he would “sustain the expansion” of the US economy, but not by slashing interest rates by a whole percentage point, as Trump has repeatedly called for. Instead, Powell is likely to lower rates by around a quarter of a percentage point, from their current level of 2.25 percent. Also on rt.com
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